Save Article

Abercrombie Pays CEO More to Fly Less

Abercrombie & Fitch Co. paid its chief executive $4 million to limit his personal use of the corporate jet, according to a securities filing Tuesday.

The high-priced teen retailer amended the employment agreement of Michael Jeffries, long-time chief executive, to limit his company-covered personal use of the corporate jet to $200,000 per year. The CEO would have to reimburse the company for any use over that amount.